SD Biotech Roundup: Wireless Sensor Prize, Zogenix, Sangart, & More

Xconomy San Diego — 

The X Prize Foundation’s Peter Diamandis came to San Diego to announce the formation of a new incentive prize competition, while a variety of companies disclosed new funding deals. It’s all part of our roundup of local life sciences news.

—San Diego-based Sangart, which has been developing an oxygen-carrying compound for treating the effects of traumatic blood loss, raised $50 million from its biggest investor following an interim evaluation of a second mid-stage trial. An independent data monitoring committee unanimously recommended that Sangart should move to complete a second mid-stage trial without making any changes to its study.

—In a bid to stimulate the development of a new generation of wireless health sensors, the X Prize Foundation and Nokia unveiled the $2.25 million “Nokia Sensing X Challenge” in San Diego last week during the Wireless-Life Sciences Convergence Summit. X Prize founder and CEO Peter Diamandis told the audience, “My car, my airplane, and my computer have more biometric sensing capabilities that we do as humans. We should be creating gigabytes of data per day about our bodies’ health, monitoring every single moment, every single second of what we do.”

—San Diego-based Zogenix (NASDAQ: ZGNX) said it has submitted an investigational new drug (IND) application for a drug-and-device combo—the company’s needle-free DosePro drug injector and a once-monthly formulation of risperidone (Relday) for treating schizophrenia. Zogenix said initial clinical trials are planned to begin in the second half of the year, with results expected by year-end.

—Xconomist Evan Snyder, a leading stem cell researcher at San Diego’s Sanford-Burnham Medical Research Institute, provided an overview of research and development in regenerative medicine and related efforts to commercialize stem cell technology. Snyder said developing new stem cell therapies can be a hard sell among private biopharmaceutical companies because the … Next Page »

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